Ecopro Materials Attracts 3.7 Trillion Won in Subscription Deposits

EcoPro Materials recorded a subscription competition rate of 70 to 1 after conducting a general subscription for two days from the 8th to the 9th. The subscription deposit amounted to approximately 3.6705 trillion KRW, with a total of 381,625 subscription applications.

EcoPro Materials conducted a demand forecast over five business days from the 30th of last month to the 3rd. The public offering price was set at 36,200 KRW. A total of 1,141 domestic and international institutional investors participated in the demand forecast.

The EcoPro Materials employee stock ownership association fully absorbed the allocated shares. The average subscription amount per member of the employee stock ownership association was 158 million KRW.

EcoPro Materials plans to use the funds raised through the public offering for additional factory and equipment investments as well as raw material purchases. The company aims to expand production capacity to meet the precursor demand that will grow alongside the eco-friendly battery market.

Kim Byung-hoon, CEO of EcoPro Materials, stated, "We will actively communicate with shareholders after the listing," adding, "We will do our best to lead corporate growth and the ecosystem of the battery cathode material market."

EcoPro Materials will be listed on the KOSPI market on the 17th.